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Canada’s Inflation Climbs to 2.4% as Gas Prices Surge to Record High

  Canada’s inflation rate accelerated to 2.4% in March , up from 1.8% in February, as the Iran war triggered the largest monthly gasoline price increase on record . Statistics Canada reported that gas prices surged 21.2% month‑over‑month , a supply‑shock response to Iran’s closure of the Strait of Hormuz and broader Middle East instability.  Energy costs were the dominant driver of March inflation, with overall energy prices rising 3.9% year‑over‑year after a sharp decline the month before. Excluding gasoline, inflation would have eased to 2.2% , highlighting how concentrated the price shock was.  Food inflation offered mixed relief: grocery prices rose 4.4% , while fresh vegetables jumped 7.8% due to difficult growing conditions. Restaurant inflation cooled sharply as last year’s tax‑holiday distortions fell out of the annual comparison.  Economists note that while headline inflation spiked, core measures remained relatively tame , giving the Bank of Canada ro...
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Oil Prices Slide After Iran-Israel Ceasefire, But Volatility Lingers Amid Missile Reports

Crude oil prices fell sharply on Tuesday following the announcement of a ceasefire between Iran and Israel, easing fears of a prolonged conflict in the Middle East. Brent crude dropped nearly 5% to around $68 per barrel, while West Texas Intermediate (WTI) slipped to approximately $66.

The truce, brokered by U.S. President Donald Trump, was confirmed by both nations after nearly two weeks of escalating hostilities that had pushed oil to a five-month high. However, optimism was tempered by reports that Iran may have launched additional missiles shortly after the ceasefire took effect, raising concerns about the fragility of the agreement.

Markets initially welcomed the de-escalation, with analysts noting that Iran’s earlier retaliatory strikes on U.S. bases in Qatar were seen as symbolic and deliberately limited in scope. The absence of attacks on energy infrastructure or the Strait of Hormuz—a vital oil transit route—helped calm fears of a major supply disruption.

Still, energy analysts caution that oil prices may remain volatile in the near term. “The extent to which Israel and Iran adhere to the ceasefire conditions will play a significant role in determining oil prices,” said Priyanka Sachdeva, senior market analyst at Phillip Nova.

With geopolitical tensions still simmering and the potential for renewed conflict, traders are keeping a close eye on developments in the region.

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